Standard Chartered Smart Credit Card
Standard Chartered Smart Credit Card
- 6%*
- Cashback from Netflix, Spotify, fast food joints and more. *T&Cs apply.
- S$0
- Annual Fee
- S$0
- Minimum Spend
Get S$250 Cash via PayNow or an Apple AirPods 3rd Generation (worth $261.40) or a Nintendo Switch Lite (worth S$309) when you apply and spend a min. of S$250 in Eligible Transactions. T&Cs apply.
Are you eligible?
Promotion is valid from 01-October-2023 to 31-October-2023
Applicable for New-to card holders only
Customers need to apply through MoneySmart to be eligible
What you need to know
Log into your MoneySmart account and submit your claim by 30th November 2023
Spend a min. of S$250 in Eligible Spends within 30 days from card approval date
Gift Options: S$250 Cash via PayNow OR a Apple Airpods 3rd Generation (worth $261.40) or a Nintendo Switch Lite (worth S$309)
Please note that gifts will typically be fulfilled approximately 4 to 5 months after the end of the campaign month (31 October 2023).
MoneySmart exclusive gifts and rewards do not stack with external or third party promotions unless otherwise stipulated. Kindly refer to T&Cs for details.
All Details
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Standard Chartered Smart Credit Card Review 2023
Standard Chartered Singapore, a part of the renowned international banking group Standard Chartered Group, has been providing financial services for clients with various needs including personal, commercial, corporate, priority and private banking, for over 160 years in Singapore.
Standard Chartered Singapore has a selection of credit cards for you to choose from, and SC Smart Credit Card is one of their best cards for cash back benefits. Let's take a look at the requirements, pros and cons and other relevant details of the Standard Chartered Smart credit card before you make a decision to get this card.
Pros & Cons Of Standard Chartered Smart Credit Card
| Pros | Cons | |
|---|---|---|
| No minimum spend required | High Interest rate of (23.9%-29.9%) per annum, based on bank’s assessment of credit profile | |
| 6% cashback on selected everyday merchants | Foreign currency transaction fee | |
| 3-month interest-free Instalments | Overlimit fee | |
| No annual fee and cash withdrawal fee | Standard process of exchanging rewards points for cashback is required as there is no automatic conversion | |
| No cash advance transaction fees. | ||
| Up to S$250 cashback upon activation of your card (as of 6 Apr 2023) | ||
| Convenient online application with SingPass | ||
| Open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 - 65 | ||
| Lifestyle privileges such as dining, digital subscriptions, transportation and shopping discounts |
Standard Chartered Smart Credit Card Interest Rates & Fees
Just like some banks that do not charge any processing fees or initial annual fee, the Standard Chartered Smart credit card offers similar benefits. It doesn't charge any annual fees, cash withdrawal fees or cash advance transaction fees.
Considering that you don';t have to fork out any money for such fees, it is really worthwhile to get this card and use it for your everyday purchases.
Standard Chartered Smart Credit Card Application
Here are 3 simple steps to apply for the Standard Chartered Smart Credit Card
Apply via MoneySmart’s Personal Loans page
You may begin your application by clicking on our Standard Chartered Smart Credit Card application link. When you choose to apply online via Standard Chartered’s website using SingPass MyInfo, Standard Chartered will pull your identity and income data from SingPass (which is already verified), thus reducing the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.
Provide all documentation required
You'll need to provide all the necessary documentation in order for Standard Chartered to approve your credit card application. This list of documents include:
- NRIC or other identification details
- Latest computerised payslip
- Latest 6 months' CPF Contribution History Statement
- Latest Income Tax Notice of Assessment (NOA)
Receive your Standard Chartered Smart Credit Card
You’ll be able to activate your Standard Chartered Smart Credit Card through the SC Mobile Singapore App and create your 6-digit Unlock Code to secure your credit card transactions.
Compare SCB Smart Credit Card vs. OCBC Cashflo Card vs. Citi Cash Back + Card
The Standard Chartered Smart credit card is just one of the many cards out there that is good for cash back perks. There are also others like the OCBC Cashflo Card and Citi Cash Back+ Card which are among the many cash back credit card options you would have come across on MoneySmart's online credit card comparison wizard. Let’s compare these 3 credit cards and have a closer look at their requirements and benefits.
The key factors which we’ll be focusing on are interest rates, annual fees, minimum annual income requirements and cash back benefits.
Among the 3 credit cards, the Standard Chartered Smart credit card gives you the highest percentage of cash back on your spending on any category - a generous 6% that is higher than the 1.6% and 1% you can get from Citi Cash Back + card and OCBC Cashflo card respectively.
In terms of interest rates, the Standard Chartered Smart credit card also offers you the lowest option of 23.90% (subject to the bank’s assessment of your credit profile). However, Standard Chartered can also charge you up to 29.90% p.a. of interest rate, which is the highest among the 3 cards.
Another great thing about the Standard Chartered Smart credit card is that you don’t have to worry about paying annual fees and there's no minimum spend required, unlike the other 2 cards.
Comparing SCB Smart Card vs OCBC Cashflo Card vs Citi Cash Back+ Card
| SCB Smart Card | OCBC Cashflo Card | Citi Cash Back+ Card |
|---|---|---|
| Interest rate: 23.90% to 29.90% | Interest rate: 26.88% | Interest rate: 27.90% |
| Annual fee: None | Annual fee: $162 (Waiver available) | Annual fee: $194.40 for Year 1 (First year waiver available) |
| Minimum annual income: $30,000 for Singaporeans and PRs $60,000 for foreigners | Minimum annual income: $30,000 for Singaporeans and PRs $45,000 for foreigners | Minimum annual income: $30,000 for Singaporeans and PRs $42,000 for foreigners |
Cash back benefits:
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| Cash back benefits:
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Frequently Asked Questions
Are there any fees if I apply for the Standard Chartered Smart Credit Card?
- The Standard Chartered Smart credit card doesn’t charge any annual fees, cash withdrawal fees or cash advance transaction fees, but does charge a late payment fee, minimum monthly payment, foreign currency transaction fee, and overlimit fee.
Am I eligible for the Standard Chartered Smart Credit Card?
- If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the Standard Chartered Smart credit card, as long as you’re aged between 21 to 65, and earn a minimum annual income of $30,000 (for Singaporeans and PRs) or $60,000 (for foreigners).
If I’m late for my monthly Standard Chartered Smart Credit Card bill payment, how much do I have to pay?
- Late payment charge is S$100 and additional interest will be calculated on a daily basis at the most updated EIR determined by Standard Chartered Bank at the point of your late payment.
What are the cash back benefits of a Standard Chartered Smart Credit Card?
The benefits include:
- 6% cashback on your everyday spend at selected merchants across fast food dining, coffee and toast, digital subscriptions and transportation
- No minimum spend requirement